Bankers Petroleum (BNK.TO) Buy, Sell or Hold

Bankers Petroleum (BNK.TO)

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HOLD

Up to mid year it was doing very well. Problem in early 2010 was that the stock got too far away from the 200-day moving average and needed a pullback. This has now happened and is now close to the 200-day. The potential is that the stock is gong to break on the upside. To be safe use a $6.10-$6.20 Stop Loss.

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DON'T BUY

Just sold his holdings. Had lots of potential but had a significant production slip up last quarter. Not comfortable with guidance they will give for next year. Too pricey right now.

COMMENT

Should have a good quarter with the spike in oil prices. No opinion on this one.

DON'T BUY

As far as oil goes, seasonality sweet spot is Feb 25 to May 9. Also a good place in summer into September. Right now Oil stocks don’t do well. BNK just recently lowered guidance for 2011. They have a descending triangle right now. If it falls below $7 it will be a bit negative. Wouldn’t touch it.

PAST TOP PICK

(A Top Pick June 10/10. Up 3%.) Still likes. Had a bit of a stumble last quarter, which is very unusual.

BUY ON WEAKNESS

One of his highest weightings. Difficult operating report a while ago which makes an opportunity to acquire the stock.

COMMENT

Stock has pulled back due to disappointing production guidance in Q4. Some investors are buying because of the reduced price.

SELL

Just cut production guidance and shares are trading down significantly. Likely indicative of a trend change in their operations. If you own, take profits. (He is Short the stock.)

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BUY

(Market Call Minute.) One of the strongest performing companies in the oil group.

BUY

Heavy oil exposure in Albania. Initial concern was if they could meet exit guidance for the year and he feels reasonably confident that they will. Also potential for development to the west of them. Sitting on a very significant field.

HOLD

Fallen below its 200-day moving average but he could make a case for a descending triangle and there will probably be a break above the descending line. A break above $8.25-$8.50 would be a signal.

STRONG BUY

Forecasting 15,000 barrels per day by the end of 2010. Good management. Exclusive access to largest onshore oilfield in Europe (Albania) and have 3 rigs running and expected to add a 4th in Q1. Once they have proved up, he expects the company to be sold at a big premium.

BUY

An international, oil weighted story and the market is keying off on this.

BUY

Heavy oil exposure in Albania. Continues to like. Trading at a discount to 2P NAV. Analysts have a NAV 2P (proven and probable) of about $6.95-$6.90 a share. 250 million barrels in reserves with exposure to 1 billion barrels.

DON'T BUY

Midsized, Calgary-based E&P oil company. This area will be driven by the price of oil and it is difficult to have a bull market view of oil in the near term of 12-18 months. Would suggest something more diversified geographically, product and also downstream activity.

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Bankers Petroleum (BNK.TO)